The London economy is riding high because of record numbers of shoppers from China and the Far East spending on average £1,700 each during the Christmas sales, with leading shops like Selfridges seeing thousands of Chinese queuing up to get their hands on discounted luxury brands. http://www.thelondondailynews.com/record-numbers-chinese-shoppers-sales-london-p-5465.html

Diamonds prices are poised to rise for the next four years, outpacing gold, as increased spending on luxury goods in China, India and the Middle East outpaces supplies of the precious stone, analysts said. http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/12/28/bloomberg_articlesLWVSMQ0D9L36.DTL

Second- and third-tier cities will likely remain the main drivers of sustained luxury sales growth in the year ahead. Another key trend called out in the study is the critical importance of mainland Chinese tourist-shoppers in places like Hong Kong and Taiwan. In Hong Kong, the report points out, “certain categories of goods, such as jewelry, watches and gifts, where tourists are a main driver of consumption, will see rapid sales growth in 2011-15. This trend will also play out in Taiwan, where mainland Chinese tourists are equally important consumers.” http://www.jingdaily.com/en/luxury/report-greater-china-luxury-sales-set-to-surpass-japan-for-first-time/

Due to the Renminbi’s recent appreciation, rich consumers continue to prefer buying abroad as this gives them more value for money. Hong Kong and Macao still account for more than half of Chinese luxury consumers’ overseas spend, and that trend is expected to continue next year, according to Bain. http://blogs.ft.com/beyond-brics/2011/12/15/luxury-brands-turn-cautious-on-china/#axzz1gavT6Rdx

A total of 66 million Chinese citizens will have gone abroad this year, according to the United Nations World Tourism Organisation (UNWTO) — a rise of 15% on 2010. –AFP http://www.thenewage.co.za/38769-12-53-Chinese_tourists_will_no_longer_be_in_groups_says_research

Whether it’s a Louis Vuitton handbag or a bottle of top-flight Bordeaux, watered down with Sprite to disguise the taste, looking rich is incredibly important to China’s new consumers. http://www.telegraph.co.uk/culture/8994633/The-mystery-of-Chinas-big-spenders.html

The top three categories women in China spend money on are ‘daily necessities,’ ‘clothing,’ and ‘health and beauty products’ while women in developed markets choose to spend their money on vacations and paying off debts and credit card bills. http://thechinaobserver.com/2012/01/04/female-china-consumer/